Nasdaq Launches U.S. Treasury Futures Product
Builds on Nasdaq's U.S. Treasuries Cash Market Presence
NEW YORK, July 02, 2018 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ) today announced it will launch U.S. DV01 Treasury Futures, a new interest rate risk product trading on the Nasdaq Futures Exchange (NFX). U.S. DV01 Treasury Futures, or "the dollar value of one basis point," will allow clients to hedge against the price sensitivity of a portfolio of cash market U.S. Treasuries across the yield curve from 2-year to 30-year maturities. The new product will be available for trading on Thursday, July 19, 2018, pending regulatory approval.
"Combined with our experience in the U.S. Treasury cash markets on Nasdaq Fixed Income (NFI), the launch of U.S. DV01 Treasury Futures moves us closer to our goal of helping our clients gain greater certainty of their U.S. Treasury portfolio interest rate risk," said Ted Bragg, Head of NFI at Nasdaq. "The U.S. Treasury market needs additional instruments to help manage interest rate risk, and U.S. DV01 Futures provides increased optionality and alternatives in the fast growing interest rate futures market."
"Our NFX platform launched three years ago as an all-commodities exchange to expand on our existing global commodities business and provide more choice for clients," added Tom Wittman, Executive Vice President and Head of Market Services at Nasdaq. "Based on the growth of NFX and client feedback, we feel the next step is to expand into financial futures and work closely with the futures marketplace to build off the strength of our technology."
As the deepest and most liquid government securities market in the world, the U.S. Treasury market is highly reliant on and influenced by an array of economic factors. Futures market participants will benefit from U.S. DV01 Treasury Futures through the following:
- U.S. DV01 Futures will be cleared by The Options Clearing Corporation (OCC), and allow clients to hedge against the price sensitivity of a portfolio of 2-year, 5-year and 10-year notes, or 30-year bonds.
- U.S. DV01 Futures are cash settled On-The-Run U.S. Treasury futures contracts expressed as 100 minus the yield of the corresponding U.S. Treasury security.
- Example: A 10-year note yield of 3.065 percent shall be expressed as a futures yield-derived price of 96.935.
- The underlying interest is the dollar value ("DV01"), assigned by the Exchange at the time of listing for each contract month, of a one basis point change in yield of the current On-The-Run U.S. Treasury security, with a face value of one million dollars having fixed semi-annual coupon payments available for trading on the NFI Alternative Trading System Order Book (the "NFI Order Book").
- Example: A 10-year note DV01 designated by the Exchange of $850 will result in a minimum trading increment of one-tenth of one basis point (0.001) which equals $85.00.
- Trading in U.S. DV01 Treasury Futures contracts will be Sunday through Friday, 7:00 PM - 6:00 PM EPT.
NFI is the second largest dealer-to-dealer institutional trading venue for U.S. Treasury securities. The six On-The-Run U.S. Treasury securities are among the highest in volume and the most liquid financial instruments in the world. The U.S. Treasuries cash marketplace is extremely efficient - there are over a dozen multi-billion dollar principal trading firms whose core strategy is to transfer liquidity between U.S. Treasury trading venues at ultra-high speeds. In 2018, The Nasdaq Fixed Income trading platform will move to Nasdaq's state-of-the-art matching engine, business functionality and protocol technologies - the Nasdaq Financial Framework.
Since 2013, Nasdaq has been one of the leading electronic trading platforms for cash U.S. Treasury securities, providing real-time, intraday, end-of-day, historical and indicative data formats for U.S. Treasury data. Treasury securities include Treasury bonds (T-bonds), Treasury notes (T-notes) and Treasury bills (T-bills) and U.S. Treasury Floating Rate Notes.
To learn more about Nasdaq's DV01 Treasury Futures, please visit here: http://business.nasdaq.com/media/US-DV01-Treasury-Futures_tcm5044-63486.pdf
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: http://business.nasdaq.com
Nasdaq Media Contact:
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nasdaq via Globenewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Fossil Group Enters Agreement To Sell Select Smartwatch Technology To Google17.1.2019 18:30 | Pressemelding
Transaction Unlocks Growth Opportunities for Fossil Group’s Wearables Business RICHARDSON, Texas, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Today, Fossil Group (NASDAQ:FOSL) announced its plan to sell to Google for $40 million intellectual property (IP) related to a smartwatch technology currently under development by Fossil Group. As part of the transaction, a portion of Fossil Group’s research and development (R&D) team currently supporting the transferring IP will join Google. Fossil Group retains more than 200 R&D team members to focus on innovation and product development. The transaction showcases Fossil Group and Google’s shared investment in the wearables industry. In recent years, smartwatches have become Fossil Group’s fastest growing category. The company successfully developed and launched smartwatches across 14 of its owned and licensed brands. “Fossil Group has experienced significant success in its wearables business by focusing on product design and development informed by our
Calgon Carbon Corporation Announces Global Price Increase17.1.2019 17:16 | Pressemelding
Pittsburgh, PA, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Calgon Carbon Corporation today announced a global price increase, effective February 1, 2019, where contracts permit, on all activated carbon products and related equipment due to a continued escalation in raw material costs and transportation expenses. The increase is expected to range between 10-15%, depending on the specific product, raw material type, services provided, and global market dynamics. The primary raw materials used for producing activated carbon are coal, coconut shell, and wood, each of which has gone up in price. Additionally, costs associated with both operating manufacturing facilities and transporting materials have also escalated. “Calgon Carbon’s raw material costs have increased significantly. Despite every effort to offset these increases through continuous improvements, the recent rise in raw material costs has exceeded our efforts,” said Jim Coccagno, Chief Commercial Officer for Calgon Carbon Corporation. “
Taconic Biosciences’ Animals Complete Most Recent Mission to the International Space Station17.1.2019 15:29 | Pressemelding
RENSSELAER, N.Y., Jan. 17, 2019 (GLOBE NEWSWIRE) -- Taconic Biosciences, a global leader in providing genetically engineered rodent model solutions, announces the completion of a recent mission to the International Space Station. This project represents a collaboration between the International Space Station (ISS) National Lab, National Aeronautics and Space Administration (NASA), Bioserve Space Technologies with support from the Leidos Corporation, and Taconic. Taconic has participated in several spaceflight missions with NASA since 1985. Most recently, as part of the science and research investigation payloads supported by the SpaceX Commercial Resupply Services missions, Taconic prepared mice to live aboard the International Space Station for extended periods. Previous spaceflight studies demonstrated that mice undergo rapid loss of muscle and bone mass, resembling accelerated aging. Therefore, mice exposed to microgravity via spaceflight are a valuable model to understand and devel
MPP Global Bridges the Innovation Gap by Centralising Physical and Digital Subscriber Management and Billing in a Single Cloud Platform17.1.2019 12:29 | Pressemelding
WARRINGTON, UK, Jan. 17, 2019 (GLOBE NEWSWIRE) -- MPP Global, the technology company that delivers eSuite, the world’s smartest subscriber management & billing platform, announces the launch of pivotal new functionality which enables media organisations to seamlessly create and manage the sale of physical subscriptions. This positions eSuite as the complete physical and digital subscription management solution. The development of this industry-first functionality was borne out of the common challenge for publishers when managing multiple systems for deploying bundled print and digital subscriptions. This is inflexible for publishers and limits choice for their customers, restricting the ability to seamlessly create and offer digital and print subscription bundles. Despite increased consumer uptake of digital subscriptions, print still accounts for almost 90% of circulation revenues globally. To drive reader revenues successfully, publishers require functionality to execute complementar
Fortuna reports 2018 full year production of 12.8 million silver equivalent ounces and issues 2019 guidance17.1.2019 11:00 | Pressemelding
VANCOUVER, British Columbia, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce fourth quarter and full year 2018 production figures from its two underground operating mines, the San Jose Mine in Mexico and the Caylloma Mine in Peru. For the full year 2018, the Company produced 8.9 million ounces of silver and 54.2 thousand ounces of gold or 12.8 million Ag Eq1 ounces. 2018 Consolidated Production Highlights Silver and gold production were 7 % and 12 % respectively above 2018 guidance Silver production of 8,890,943 ounces; 5 % increase over 2017 Gold production of 54,210 ounces; 4 % decrease over 2017 Zinc production of 45,484,648 pounds; 3 % increase over 2017 Lead production of 28,254,570 pounds; 5 % decrease over 2017 2018 Consolidated Operating Results Q4 2018 2018 Caylloma, Peru San Jose, Mexico Consolidated Caylloma, Peru San Jose, Mexico Consolidated Processed Ore Tonnes milled 135,034 256,181 534,773 1,040,478 Average tpd
WillScot to Participate at the Barclays Industrial Select Conference16.1.2019 21:00 | Pressemelding
BALTIMORE, Jan. 16, 2019 (GLOBE NEWSWIRE) -- WillScot Corporation (“WillScot”)(NASDAQ: WSC), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced that Brad Soultz, President and Chief Executive Officer, and Tim Boswell, Chief Financial Officer, will present at the Barclays Industrial Select Conference at the Loews Miami Beach Hotel in Miami, Florida, on Wednesday, Feb. 20, 2019. The presentation will take place at 10:20 a.m. EST. About Williams Scotsman Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the WillScot family of companies in the United States, Canada and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol “WSC.” WillScot is the specialty rental services market leader providing innovative modular space and portable storage solutions across North America. It is the modular space supplier of choice for t